Real Money

J. Larry Keen, Ed.D. Appointed To New Century Bancorp Board

DUNN, N.C., April 2, 2012 /PRNewswire/ -- The Board of Directors of New Century Bancorp (NASDAQ: NCBC –the "Company") unanimously approved the appointment of J. Larry Keen, Ed.D., president of Fayetteville Technical Community College in Fayetteville, NC, to serve on the corporate board, announced William L. Hedgepeth II, president and CEO of both New Century Bancorp and New Century Bank.

"Education is the key to the future economic health of our communities," Hedgepeth said. "Access to affordable higher education and certificate programs, as provided by community colleges such as Fayetteville Technical Community College, makes a community attractive to new businesses and enhances the overall quality of life for its citizens. As president of Fayetteville Tech, Dr. Keen is responsible for assuring the school meets the needs of students today and provides a skilled, educated workforce for the businesses of tomorrow. I don't know of anyone who has his hand anymore on the pulse of what is happening in this area than Dr. Keen.

"Combine his current role with his prior experience as vice president of the 58-institution North Carolina Community College System, and Dr. Keen brings a broad view of the economy of our area and our state to this board. His influence will be felt across the bank, by all of our shareholders and customers, and will leave a positive mark on our Company for many years."

Dr. Keen has served as president of Fayetteville Tech for almost five years and, prior to that, served the North Carolina Community College System for six years. A graduate of Oklahoma State University in Stillwater, OK, he received his doctorate in education in 1985. He is a member of the North Carolina Association of Community College Presidents, the Fayetteville Kiwanis Club, the Cumberland County Partnership for Children, the Fayetteville- Cumberland County Chamber of Commerce, the North Carolina Economic Development Association, and the Airborne Scholarship Association.

New Century Bancorp's chairman, J. Gary Ciccone, remarked on Dr. Keen's appointment, "Larry is an exceptional community leader and New Century's shareholders are fortunate to have him serve on the board. On behalf of everyone on our board, I welcome Dr. Keen and appreciate his willingness to work with us and to help us become an even more significant presence in supporting the economic health and growth of our communities."

New Century Bancorp (NASDAQ: NCBC), the approximately $590.0 million in assets holding company for New Century Bank, is headquartered in Dunn and through New Century Bank has branch offices in these North Carolina communities: Dunn, Clinton, Fayetteville, Goldsboro, Lillington, Lumberton, Pembroke, Raeford, and a loan production office in Greenville.

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, (i) statements regarding certain of our goals and expectations with respect to earnings, earnings per share, revenue, expenses and the growth rate in such items, as well as other measures of economic performance, including statements relating to estimates of credit quality trends, and (ii) statements preceded by, followed by or that include the words "may," "could," "should," "would," "believe," "anticipate," "estimate," "expect," "intend," "plan," "projects," "outlook" or similar expressions. The actual results might differ materially from those projected in the forward-looking statements for various reasons, including, but not limited to, our ability to manage growth, our limited operating history, substantial changes in financial markets, regulatory changes, changes in interest rates, loss of deposits and loan demand to other savings and financial institutions, and changes in real estate values and the real estate market. Additional information concerning factors that could cause actual results to materially differ from those in the forward-looking statements is contained in the Company's SEC filings, including its periodic reports under the Securities Exchange Act of 1934, as amended, copies of which are available upon request from the Company.

SOURCE New Century Bancorp

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